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Apple Overtakes Exxon To Top Spot As Most Valuable US Company

Apple surpassed another major milestone today as they became the most valuable company on the US stock exchange and finally overtook oil giant Exxon.

It’s not the first time that Apple has overtaken Exxon, but today it was the first time that Apple finished above Exxon when the markets closed.

The California-based technology company have been Wallstreet darlings for the last couple of years with consecutive quarters of record growth and sales.

Apple actually surpassed Exxon yesterday, but by the time the markets had closed Exxon had regained top spot – but today Apple’s share price propelled them into top spot as the markets closed for the first in the Cupertino Company’s history.

Apple’s value is measured by market capitalisation, which is defined as the value of the share times the number of shares outstanding.

Exxon managed to get to the top spot in 2005 when it managed to overtake General Electric – but now have been relegated into second place.

It’s a remarkable story for Apple considering 14 years ago they were bailed out by Microsoft to the tune of $150m dollars, which saw the two companies strike an investment and partnership deal.

Over the years Apple has become one of the world’s most valued and trusted brands – and has overtaken Microsoft last year on the their way to the top spot as well as the US government.

Ironically despite this historic milestone they had a shaky day on the stock market and their stock closed down 2.76 percent, it just so happens that Exxon fell by over 4 percent.

Let us what you think Apple should do with its ever increasing riches. Let us know by tweeting us @GadgetHelpline

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